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SpiceJet Leases Airbus A340 Wide-Body Aircraft to Expand Fleet

SpiceJet Leases Airbus A340 Wide-Body Aircraft to Expand Fleet Amid Industry Challenges
Gurugram, September 26, 2025 — SpiceJet has secured a lease agreement to introduce a wide-body Airbus A340 aircraft into its fleet, marking a pivotal development in the airline’s expansion strategy. The aircraft is expected to arrive in India by the end of September and commence operations in early October. This addition aims to enhance capacity in response to growing passenger demand and to strengthen SpiceJet’s expanding network.
Fleet Expansion and Operational Plans
Initially, the Airbus A340 will be operated under a wet lease arrangement, with plans to transition to a damp lease model to achieve greater operational flexibility and cost efficiency. Pending regulatory approvals, the airline intends to retain the A340 as a long-term asset, with operations extending well beyond the initial year. SpiceJet is also engaged in advanced negotiations to lease a second A340, underscoring its commitment to sustained growth.
Alongside the wide-body expansion, SpiceJet recently announced agreements to induct 18 Boeing 737 aircraft, including four Boeing 737 MAX jets, scheduled to join the fleet starting October 2025. This diversified fleet strategy reflects the airline’s ambition to enhance both domestic and international connectivity.
Industry Context and Competitive Landscape
SpiceJet’s fleet expansion occurs amid a challenging environment marked by a global slowdown in aircraft production and rising leasing costs, factors that have increased operational expenses across the aviation sector. These pressures pose potential risks to the airline’s operational and financial performance.
Competitors are also adjusting their strategies in response to evolving market dynamics. Vietnam Airlines is pursuing fleet growth through the acquisition of Airbus A350s or Boeing 787s, while Brazil’s Azul is restructuring its fleet and lease agreements following its emergence from bankruptcy protection. Such moves are likely to intensify competition in both domestic and international markets, compelling airlines to carefully evaluate their growth trajectories.
Commitment to Growth and Connectivity
SpiceJet, an IATA-IOSA certified carrier operating a fleet of Boeing 737s and Q-400s, is among India’s largest regional airlines, with multiple daily flights under the UDAN Regional Connectivity Scheme. The majority of its aircraft feature SpiceMax seating, which the airline promotes as the most spacious economy-class offering in India.
Debojo Maharshi, Chief Business Officer of SpiceJet, emphasized the significance of the new wide-body addition, stating, “We are thrilled to introduce the Airbus A340 into our fleet as part of our ongoing efforts to enhance our service offerings and expand our domestic and international network. This aircraft will allow us to tap into new markets and expand our international footprint. With another A340 under negotiation and 18 Boeing 737 aircraft joining our fleet soon, SpiceJet is poised for one of its most ambitious growth phases.”
As SpiceJet advances its fleet expansion, it faces the challenge of balancing ambitious growth plans with the need for operational and financial resilience in a competitive and uncertain industry environment.

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